Grant Colfax Griswold Cornell

Cover Grant Colfax Griswold Cornell
Grant Colfax Griswold Cornell
Edwin Dennison Morgan
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These bonds offered the best mode of securing the necessary means. A hundred other opportunities for favor- able investment were offering, but the patriotic classes felt it a duty to give the preference to the government, and so the money was raised in sums of $50, $100, and larger denominations.
The lender went to the law, to the agent who sold him the bond, and to the officer who represented the Government, to learn the terms. He was told an unvarying story. " If you will lend us your money n
...ow when we so much need it, we will repay you in the medium in which the American Republic al- ways meets its bonded debt, in gold. " Shall we now repudiate I the contract ?
Much as I respect the Mayor personally, it is seldom that I can agree with him on any political question, and on this ques- tion of finance we widely differ. He refers to the fact that the Republican House of Represetatives, in July last, passed a funding bill that provided for the issue of new bonds running twenty and thirty years, and bearing respectively four and a half and four per centum interest.


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